India's IREDA falls on asset quality worries after Q3 results

Indian Renewable Energy Development Agency

10/01/2025 05:15

** Shares of Indian Renewable Energy Development Agency
(IREDA)  INAR.NS  fall 2.4% to 211 rupees
    ** On Thursday, the clean energy focused lender reported
~26% rise in Q3 profit, but provision for bad loans rose
    ** Asset quality deteriorated with stage 3 asset increasing
and provision coverage ratio fell, PhillipCapital said in a note
    ** INAR among top losers in Nifty mid-cap index
 .NIFMDCP100 , which is down 1.5%
    ** INAR surged 109% in 2024 vs 24% gains in mid-cap index

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))